Cantrell & Cochrane is reportedly set to launch a flotation next year.

The Financial Times reports today that the Irish drinks company's sale of Barbero 1891 to Campari yesterday has helped reduce the group's level of debt. This debt prevented C&C from its previous attempt to float last year.

According to newspaper, the company's net debt of €715m (US$856.4m) is expected to fall to about €500m at the end of its financial year on 29 February.

C&C will probably seek a dual listing in London and Dublin.